GA Books in Upcoming Mastro Auction 11/20 - 12/6

[Mastro Auctions-migration]

Hey guys ( & gals, if there are any here) -

 

I'm Chris Porter, the head of the comic division for Mastro Auctions. I appreciate the time that you've taken to read this far into the thread and I am glad for the constructive input by many of those who have posted. I have tried the last year to get out to as many cons as possible to meet some of you. I have met with some success, but I can certainly understand that if you have no idea of who I am than you would hesitate to contact me directly.

 

What we're trying to do at Mastro is to provide a quality venue for collectors of high class vintage books to utilize in order to build even better collections than they already have. We're off to a good start so far having had successful auctions close in August and last month. I invite you to contact me via PM or email to discuss any questions and concerns about our offerings, and I will welcome any constructive criticism that you feel necessary to dispense. Besides myself there are several other Mastro employees with experience in comics, Josh Petrie primarily, as well as a staff of 30 plus other professionals in collectibles fields that are ready and able to serve your comic needs and concerns. We have a great relationship (but not too great, ha-ha) with CGC which includes the submission of consigned books and their sale at auction.

 

Specifically, and in order to address the four biggest concerns listed in earlier posts, I'd like to offer this: ANYONE NOT REGISTERED WITH MASTRO AUCTIONS AS OF TODAY, NOVEMBER 15TH, 2006 CAN REGISTER FOR FREE WITH US UNTIL TUESDAY, DECEMBER 5TH, 2006. Simply go to www.mastroauctions.com and fill out all of the requested info (including credit card, which will not be charged, but is needed for verification). One of the boxes is labeled "Interests" and it is here that you should enter "Comic Promo" which is the key phrase for the free registration.

 

For what it's worth, the normal registration fee isn't simply meant to pad the company's bottom line, it's to cover the additional manpower necessary to verify each of our bidder's references, which further serves to legitimize the bidding in the auction. We have a full time staff member who works diligently to maintain the integrity of the customer list! "Great" prices realized in an auction really aren't so hot when you figure out that the same book that you were outbid on turns up in the same company's next auction.

 

Second is the issue with our images. Please know that this is only a stop-gap measure. We are still in our infancy with comic books and this is one area I intend to improve dramatically for future auctions. As a collector myself I know how important good scans, both front and back, are to entice a client to bid. After all, it is the book they are bidding on, not the label. In the meantime, I want to invite anyone seriously considering bidding on a lot to send an email to customerservice@mastroauctions.com to request bigger, high resolution images of the book. The images will be sent to you in a timely manner.

 

Third, the issue of the 20% buyers premium. On one level, it was not a significant change. Our BP rose from 17.5% to 20%. Anyone who actively participates with major auction houses knows that this is completely within the industry standards, which typically range from 15% to 22.5%. Would I like the BP to be lower? Of course! But unfortunately this is a reality of current circumstances for us as well as all legitimate, quality auction companies. And as has no doubt been said many times, a bidder should always factor in the BP when placing a bid and only bid an amount they feel comfortable spending for that particular lot.

 

Finally, let me take a second and address the issue of the integrity of the books. I and everyone at Mastro Auctions firmly believes in full disclosure regarding a book’s history to the extent we are aware of the information. We want the trust of our clientele. While we do not necessarily know the full history of any given book placed in our auctions, I can guarantee you that Mastro is not playing the crack and resub game, nor in anyway manipulating books for higher grades.

 

Please take a moment and try to get to know us, and feel free to call me directly at any time to discuss auction or consignment issues. I was a collector long before I got into dealing and auctioning of comics, so I’m always up for a general comic discussion, as well!

 

Chris Porter

231 - 946 – 8510

cporter@mastroauctions.com

[CentaurMan]

Thanks for your comprehensive reply, Chris. I did stop by and chat with you at the Chicago Con and am certainly rooting for you to succeed, as it benefits all of us to have multiple outlets for sales & purchases. Your sports and Americana lots are outstanding, so it's already obvious that you've got substantial inventory-gathering expertise, which is very exciting.

 

And as mentioned above, the primary fixes for you guys to be competitive (or better) with existing alternatives are primarily easy to implement (scans, archives). You've done the hard part already, which is to establish credibility amongst consignors (at least in other collecting specialties).

 

As for the $75 fee, that's a great gesture on your part to waive it, and I can understand the cost of checking references. But it still seems to me than the economics work better for you guys to have as many bidders as possible (verified, or at least backed by a couple of credit cards), as each $375 item won by someone gets you guys $75 right there. Inasmuch as the fee may have been off-putting to potential bidders, I suspect that maintaining it would create a long-term negative effect larger than simply not recouping the cost of initial verification.

 

20% buyer's premium is clearly reasonable and shouldn't bother anyone except for maybe your consignors, but even then it's not a big deal given the alternatives have similar costs. As I mentioned earlier, you do put a lot of apparent effort into your auction descriptions, which is nice.

 

The final point, and the one in which Heritage truly shines, is the establishment of a full archive of past sales, with prices and images. It's a TREMENDOUS resource for collectors, and is the reason I log into Heritage at least 3 times a week (as the pricing data is more valuable to me than the Overstreet price guide). You guys would similarly become a "must see" for all serious collectors if you had something similar.

 

Thanks again for your response and your offer. Best of luck to you in becoming a force in comic collecting.

[Point Five]

Thanks, Chris. Welcome to the boards!

[stagedoorjohnny]

The final point, and the one in which Heritage truly shines, is the establishment of a full archive of past sales, with prices and images. It's a TREMENDOUS resource for collectors, and is the reason I log into Heritage at least 3 times a week (as the pricing data is more valuable to me than the Overstreet price guide). You guys would similarly become a "must see" for all serious collectors if you had something similar.

 

Excellent point, Win, and welcome to the boards Chris. I think there is a tremendous opportunity here for Mastro to step up and become a viable alternative to Heritage and a serious player in comic auctions. The most important thing for Mastro to succeed is first and foremost GET THE BOOKS. The quality of your consignments will determine your success. And the best way to accomplish that is to listen to what the collecting community has to say and improve upon the present formats available at this time. If you do things the right way, you will attract plenty of attention and therefore plenty of consignment opportunities. I wish you nothing but the best of luck!

[GACollectibles]

Found out the reason for the sign up cost & commission increase! Check out today's mail! (3) catalogs (one for each day) and a 17 minute video CD!!

 

Some good bedtime reading for me the next few weeks!

[Comicdey]

Found out the reason for the sign up cost & commission increase! Check out today's mail! (3) catalogs (one for each day) and a 17 minute video CD!!

 

Some good bedtime reading for me the next few weeks!

 

I'm not on their mailing list, so I save money....

[GACollectibles]

Been on the mailing list for years(hence no sign up cost), and always enjoy the Americana items offered.

[esquirecomics]

I missed the boat ...who is this "Mark" fellow?

 

errr ... that would be Mark = EsquireComics who started this thread ...

 

Usually if you say his name three times he appears, but not this time.

 

Beatlejuice, Beatlejuice, Beatle... whoops, can't do it!

 

Sorry, was engaged in some money making work and pulled away from substantive board posting for a short time. I'm back!

[esquirecomics]

I assume you don't have any dogs in the hunt?

 

There are a few of the comics I might go after, and perhaps some of the Americana items. I believe these are all mine in the auction:

 

213 "Human Torch" #2 (First Issue) CGC Apparent 7.5 - Origin of Toro 0 $2,500.00 $0.00

223 "All Star Comics" #7 CGC 9.0 0 $500.00 $0.00

230 "All American Comics #20 CGC FN/VF 7.0 0 $500.00 $0.00

231 "All Flash Quarterly" #1 CGC VF 8.0 - The First Issue of the Golden Age Flash's Solo Title 0 $2,500.00 $0.00

232 "Batman" #2 CGC 9.2 - Tied with One Other as the Highest Graded Example 0 $10,000.00 $0.00

233 "Batman" #5 CGC 9.0 0 $2,500.00 $0.00

234 "Batman" #6 CGC 9.2 0 $2,500.00 $0.00

235 "Green Lantern" #1 CGC 9.0 - Tied with Three Others as the Highest Graded Example 0 $10,000.00 $0.00

236 "Green Lantern" #2 CGC 9.0 - Tied with One Other as the Highest Graded Example 0 $2,500.00 $0.00

241 "More Fun Comics" #29 CGC 7.0 0 $500.00 $0.00

245 "New Comics" #9 CGC FN/VF 7.0 (Nicolas Cage Collection Copy) 0 $900.00 $0.00

246 "New Comics" #10 CGC 7.5 - The Highest Graded Copy 0 $900.00 $0.00

254 "World's Finest Comics" #2 CGC 8.0 - The Highest Graded Example 0 $900.00 $0.00

261 "Ibis the Invincible" #1 CGC 9.0 0 $500.00 $0.00

264 "Special Edition Comics" #1 CGC VF 8.0 0 $1,000.00 $0.00

[good_deal]

Mark,

 

Can you share what how reserves are set up on Mastro net (specifically for your fine books)?

 

Just curious, but why consign to Mastro when there are other avenues with lower fees?

[esquirecomics]

Why would esquire put such nice books up there if they have such high premiums and low market penetration?

 

For several reasons actually, which can be essentially summarized as follows.

 

First, as has been mentioned already, the BP is not entirely relevant as it must always be factored into any bid. And 20% is standard within the industry. Heritage has a 19.5% BP. 0.5% difference is inconsequential.

 

Second, Mastro offered me a very exceptional SP that was more than competitive.

 

Third, their market penetration, while not the same as Heritage (yet), reaches clientele I do have at this time either. And I want Mastro to grow. I want them to handle books of the type I collect and sell. I want others to see that Mastro deals in books of this high quality so others will consign their books to Mastro as well. We should all want them to grow because additional competition is only better for us as community.

 

Fourth, and most important, I trust Mastro. I trust Chris Porter. Mastro and Chris share ideals and principles that I hold dear to my heart, especially surrounding disclosure. Moreover, they are not manipulating decades old comic books that have survived virtually untouched for all that time simply to squeeze out that extra buck. They are not speculating about pedigree designations. They are not bidding on their own books. They are not constantly including the same or even very similar books in every single auction so as to contribute to the perception of degrading the actual scarcity of such a book in that high grade.

 

These are just some of the reasons why I am more than happy to work with Chris Porter and Mastro, and I encourage all of you to do the same.

 

Can they improve? Absolutely. Larger, high-res scans are needed of the front and back of each and every book. And an online archive of past sold and unsold books should be created so that an historical record exists that can be used not only to tout the breadth and substance of their auctions but also to allow collectors to research prior sales and history of these beautiful books.

 

I have high expectations for Mastro's comic book auctions, and I have a great degree of faith in Chris to achieve those objectives.

[esquirecomics]

Mark,

 

Can you share what how reserves are set up on Mastro net (specifically for your fine books)?

 

I don't recall how Mastro handles publicizing its reserves so I will defer to Chris to respond. Certainly Chris and I worked together on determing the reserves on my books. Some are quite low. Others are more competitive to reflect the particular book and an amount I am willing to accept.

 

None of the books are being sold because I need the money. But I am happy to help Mastro develop its presence in our market.

 

Just curious, but why consign to Mastro when there are other avenues with lower fees?

 

See my last post.

[esquirecomics]

But still, with a $75 upfront fee, with 20% buyer's premiums, with small front cover scans and no back cover scans, and with no archive of past auctions that I was able to find, they've done nothing to differentiate themselves in a positive way.

 

 

Sir, You are correct. If you will present me with an opportunity to pay a 20% vig the least you could do is to show me the book in detail. I'm willing to pay for service but you have to make an attempt to supply some..

 

I have bought a couple of books from Mastronet in the past and I was not disappointed. The books weren't that expensive and I relied on the CGC grading.

If I continue to buy books without large scans I fear that my luck will run out.

 

I agree, Mastronet needs to improve their set-up if they want to become a major player (and hopefully they will). But one thing to think about.. it is likely that less Mastronet books will have already been "upgraded to their full potential" compared to books being sold through a place like Heritage. Just looking at it percentage-wise, you are probably more likely to be happy with a CGC-graded book purchased via Mastronet only because less of them have been resubmitted/upgraded already.

 

However, I agree particularly for the more expensive books larger more detailed scans should be provided.

 

If they are Mark's books, true. But if they are large label, how do you know this? With the small scans it would be fairly easy to fob off fully "potentialized" comics.

 

I completely agree. In fact, I'll take it a step farther: Since Mark bought a number of books off of Heritage and hasn't cracked the slabs, I'd argue they're just as likely to have fallen victim to the crack-resub game (pre- his purchase) as anything else on Heritage at the time.

 

Really, without large scans, there's no reason to trust eBay or Mastro or ComicLink any more or less than Heritage, even if Heritage is the primary venue for such "upgrading", because the books have cross-pollinated throughout the collector community by now.

 

It is true that we should all, unfortunately and sadly, now consider every slabbed book we purchase to have potentially been monkeyed with in some form or fashion. I did buy many - but not all by any means - of my books initially from Heritage so I cannot speak to their history prior to the time they were auctioned.

 

I do believe, given the policies of Heritage vs. Mastro (or likely Hakes), that it is less likely, especially as time goes by, that those books sold through Mastro have been manipulated. Of course that all depends on the origin of the books, and whether they have come through Heritage or certain sellers. This is certainly not a scientifically determined opinion, and not even really provable on any level, but it is my instinct based on anecdotal experience and knowledge.

 

But most importantly, even if statistically there is little to no difference between the auction houses in the likelihood of purchasing an undisclosed manipulated book, as a matter of principle I will take my money and my comics to the auction house that operates openly and honestly and best exemplifies the beliefs and values I hold. That means I will, and have, consign and buy from Hakes, and I will, and have, consign and buy from Mastro.

[esquirecomics]

Why would esquire put such nice books up there if they have such high premiums and low market penetration?

Because he has not as of yet designated them as part of the Axis of Evil.

 

[esquirecomics]

Some sweet books in the upcoming Mastro auction (well, ok, some are mine! ).

Mark, have Mastro signed up to the Network of Disclosure?

 

No entities have yet signed up to be members of the NOD. For one thing, in order for an auction house to be a member the NOD would have to modify at least one by-law pertaining to a return policy (the one you dislike ).

 

But I do believe Mastro shares the values and beliefs of the NOD, and for that it gets

[esquirecomics]

Mark,

 

I thought you sold the Batman 2, 5, and 6?

 

Greg

 

As a general rule, any time I have books that are listed on my website consigned to an auction house the listing will be changed from "for sale" to "pending sale" until such time the auction has ended and the book is returned unsold. I will also pull the parallel ebay auction.

 

That said, these three books were initially consigned to Mastro and placed into their catalogue and incorporated into their promotions. As Murphy's Law would have it, there was an ongoing negotiation for the sale of these books as a set which was completed too late to remove the books from the auction. Normally neither I, nor I am sure Mastro or any auction house, would permit a consignor to pull a book from an auction. There is a contractual agreement, as well as an honor system to follow. However, I had reached a special pre-arranged accomodation with Mastro and alerted them in advance that this was a possibility. I had hoped the timing would have been better, but alas that was out of my control at the end of the day.

 

Technically, the books have been purchased. A nonrefundable deposit has been made, but the payment plan is still active. As a result of this situation the proper thing to do, and which will be done by Mastro, is to not permit bidding on these three books when the auction goes live.

 

My apologies to anyone who wished to bid on the books (though it is not like you didn't know I had them and you could have contacted me beforehand ). But if these are the types of books you are seeking, then you have come to the right place. It is books of this quality that Mastro intends to continue to place in its auctions.

[esquirecomics]

Mark's said in the past that he's not confident in his ability to handle unslabbed books without damaging them, but unless he's truly two standard deviations above normal on the spastic scale, I suspect he's underrating his ability to hold a comic. In the back of his mind he may have been thinking about resale all along and has been concerned that cracking the slabs will affect his ability to recoup his purchase prices, although he's never explicitly cited anything other than book safety as his reason for leaving them encased in their shells.

 

There is partial truth to both of the sentiments above, but not necessarily the specifics as written.

 

No, I don't view myself as that much of a *spoon* that I can't handle the books without damaging them. And I appreciate that you disagreed with the perception I might have conveyed that I was. What I have meant when I discussed the issue of raw books is that, quite frankly, I don't even want the temptation of pulling out my More Fun #52 to read and something, anything, happening that I will later regret. I'll read the DC Archive reprint. As much as I absolutely love raw books, and especially the smell of GA books (boy that sounds weird ), the risks vs benefits to handling them for me, and this is only me, means I prefer CGC graded books for the big dollar items.

 

As far as cracking them out, that is a tough one. It really depends on the book. I would never crack open my Showcase #4 CGC 9.2 for obvious reasons. But I would probably crack open my New Comics #10 CGC 7.5 for the same obvious reasons. And, believe me, it is tempting.

[esquirecomics]

I missed the boat ...who is this "Mark" fellow?

 

I'm glad you keep forgetting who I am so I don't have to give you as much of a discount on a book like the last time.

[esquirecomics]

Sorry for all the multiple posts. I'm done now!

[sacentaur]

I missed the boat ...who is this "Mark" fellow?

 

I'm glad you keep forgetting who I am so I don't have to give you as much of a discount on a book like the last time.

 

Hey I put that $5 bucks to good use!

 

STEVE